Law360, Wilmington (June 11, 2012, 5:42 PM ET) -- With negotiations on its liquidation plan deadlocked, Syms Corp. has turned to mediation with warring shareholders and creditors to find a path out of bankruptcy, the defunct clothing retailer told a judge on Monday.
The company’s last stab at resolving unsecured creditors’ objections to the shareholder-backed plan left the parties even further apart, Syms attorney Jay Goffman of Skadden Arps Slate Meagher & Flom LLP said during a telephone hearing in Delaware bankruptcy court.
“I think the key word of the day, your honor, is ‘frustration,’”...
Syms Resorts To Mediation To Break Impasse On Ch. 11 Plan
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